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After April OPEC meeting postponed, some contradictory statements from Russia and Saudi Arabia may show cracks in the cartel.
A new term has emerged in the world of crude oil price analysis: "OPEC+". The Organization of Petroleum Exporting Countries and its new crude-producing allies make up OPEC+, with the "+" consisting of 10 additional oil-producing nations, the largest three being Russia, Mexico and Kazakhstan.
April Meeting Cancelled
In the same way that people focus on Saudi Arabia when discussing OPEC, they focus on Russia when discussing OPEC+. In December